How Has The Position Sensors Market Size Evolved Historically?
The position sensors market has seen considerable growth due to a variety of factors.
• The market size of position sensors has experienced a quick expansion in the last few years. Projected to swell from $6.32 billion in 2024 to $7.02 billion in 2025, it boasts of a compound annual growth rate (CAGR) of 11.1%.
The considerable growth seen in the historical period finds its roots in the expansion of the automotive and robotics sectors, the increasing demand for precise motion tracking, the broadening of industrial automation and control, its application in consumer electronics and gaming, and the setting of regulatory standards for sensor safety.
What Will Be The Position Sensors Market Size In The Future?
The position sensors market is expected to maintain its strong growth trajectory in upcoming years.
• There is an expectation for a robust expansion in the global position sensors market in the upcoming years, with size projections rising to $10.27 billion by 2029 and a 10.0% compound annual growth rate (CAGR).
This forecasted growth is largely due to factors such as the development of compact and highly accurate position sensors, an increase in autonomous vehicles and drones along with tailor-made sensors for specific uses, the growth of smart cities and Internet of Things (IoT), and a rise in the utilization of wearables and human-machine interfaces. Other influential trends forecasted for this period include the emergence of lidar and optical position sensors, increased attention to regulatory compliance in sensor safety, the advent of smart and adaptive position sensors, the confluence of diverse sensor technologies, and a strong linkage between position sensors and 5G networks.
What Are The Key Drivers Fueling Growth In The Position Sensors Market?
The surge in consciousness concerning vehicle safety is anticipated to drive the expansion of the position sensors market. Factors like a decrease in vehicular accidents and their outcomes, regulations for safety standards, and others are increasing the safety awareness around vehicles. Position sensors find their utility in vehicles to ascertain the position of various elements like the steering wheel, pedals, seats, and multiple valves, knobs, and actuators, thus ensuring vehicle safety. To illustrate, the US government agency, National Highway Traffic Safety Administration, reported, there were an estimated 5,930,496 police-reported traffic crashes in 2022, which resulted in 42,514 fatalities and around 2,382,771 injuries. Consequently, the heightening awareness towards vehicle safety will spur the growth of the position sensors market.
What Are The Principal Market Segments In The Global Position Sensors Industry?
The position sensors market covered in this report is segmented –
1) By Type: Linear Position Sensors, Rotary Position Sensors
2) By Contact Type: Non-Contact Type, Contact Type
3) By Output: Digital Output, Analog Output
4) By Application: Machine Tools, Robotics, Motion Systems, Material Handling, Test Equipment, Other Applications
5) By End-User Industry: Manufacturing, Automotive, Aerospace, Packaging, Healthcare, Electronics, Other Ens-Users
Subsegments:
1) By Linear Position Sensors: Potentiometric Linear Position Sensors, Linear Variable Differential Transformers (LVDT), Magnetic Linear Position Sensors, Optical Linear Position Sensors
2) By Rotary Position Sensors: Potentiometric Rotary Position Sensors, Rotary Encoders, Magnetic Rotary Position Sensors, Optical Rotary Position Sensors
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Which Emerging Market Trends Are Altering The Position Sensors Sector?
Leading enterprises within the Position Sensors market are prioritizing the creation of technologically innovative solutions, such as Hall-effect sensor ICs, to improve accuracy, dependability, and energy optimization across a range of applications. A Hall-effect sensor IC utilizes the Hall effect to perceive magnetic fields, generating a voltage when in contact with a magnetic field. It is extensively applied in the automotive, industrial, and consumer electronics sectors for accurate position, speed, and proximity detection. For example, in October 2023, TDK Corporation, a Japanese electronics enterprise, introduced HAL 3927, a novel position sensor that leverages its superior 3D HAL tech. This sensor provides detailed position readings with a very minor angular error of ±1.0°, positioning it ideal for precision uses in the automotive and industrial landscapes. Its binary output alternatives (ratiometric analog and SENT interface) boost versatility, making it easy to incorporate into numerous systems while fulfilling safety norms like ISO 26262.
Who Are the Key Players in the Position Sensors Market?
Major companies operating in the position sensors market include:
• Honeywell International Inc.
• Siemens AG
• Robert Bosch GmbH
• Analog Devices Inc.
• Texas Instruments Incorporated
• Panasonic Corporation
• Renishaw plc
• Omron Corporation
• Microchip Technology Incorporated
• Infineon Technologies AG
• Beckhoff Automation GmbH & Co. KG
• TE Connectivity Ltd.
• Kaman Aerospace Corporation
• SICK AG
• LEM Holding SA
• Bourns
• Inc.
• Novotechnik US Inc.
• Celesco Transducer Products Inc.
• Applied Measurements Ltd.
• Balluff GmbH
• Posital Fraba Inc.
• SensoGuard GmbH
• ASSEMBLY Technologies Inc.
• ZF Friedrichshafen AG
• FSG Fussl GmbH
• Omega Engineering Inc.
• Proxitron GmbH
• Schaeffler Technologies AG & Co. KG
• Keyence Corporation
• Magnescale Co. Ltd.
What are the Regional Insights into the Position Sensors Market?
North America was the largest region in the position sensors market in 2024. The regions covered in the position sensors market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
